Center for Business Analytics
VSB’s Executive MBA students attend a symposium with Gary Loveman, President and CEO of Harrah’s Entertainment, and Dean James M. Danko (center).
Do You Think That or Do You Know That? Gary Loveman, CEO of Harrah’s Entertainment, INC., discusses The Power of Business Analytics to Celebrate the Launch of the New Center he Center for Business
to determine what motivates people
most alluring offer. Once this data is
Analytics at the Villanova School
to participate in gaming. Based on
collected and analyzed it will suggest
of Business welcomed Gary Loveman,
the analytical findings, he develops
the trigger the customer will best
Chairman, Chief Executive Officer, and
marketing strategies tailored individually
respond to. “Some customers respond
President of Harrah’s Entertainment,
to his client base.
best to a cash offer, while others
Inc., to speak to students, faculty,
are motivated by a free hotel room,”
numerous opportunities for students to
how analytics enable him to draw infer-
apply simple analytic methods to solve
Regardless of the trigger, the
ences about customer preferences and
complex business problems and make
analytics behind the model and its
predict behavior.
better decisions. “Insights into what
results are impressive enough that
makes customers more loyal translate
Wall Street analysts also are beginning
mented the gaming industry’s most
into higher profitability. We use analytics
to see the advantages of analytical
sophisticated and successful loyalty
as a strategic initiative, even in tough
data. “Loveman is recognized as one
program, Total Rewards. At the center
economic times,” he says.
of the leading executives in effec-
Loveman has developed and imple-
of Loveman’s strategy is a vast mathe-
Loveman’s efforts also extend
says Loveman.
tively applying analytics, especially in
matical model that scores customers on
beyond the property. When a customer
marketing,” says Matthew Liberatore, the
how profitable they can be to Harrah’s.
has not visited with his or her usual
John F. Connelly Chair in Management
frequency, he will intervene with
and director of the Center for Business
spoke about the key elements of and the
an incentive. His staff is trained to
Analytics. “He is a former Harvard
practical relationships among employee
encourage customers to talk about their
professor and author of a Harvard
satisfaction, customer satisfaction,
previous experiences, and then to listen
Business Review article, “Diamonds in
and shareholder value. In his research,
for trigger phrases such as “hotel room”
the Data Mine,” which discusses how
Loveman conducted thousands of trials
or “steak dinner” to come up with the
companies can enhance customer
During his visit to VSB, Loveman
34
According to Loveman, there are
alumni, and corporate partners about
villanova business | fall 2010
PHOTO: john wElsh
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